Tuning
PARKED
After helping run two part selling e-commerce websites, and seeing what a lack-lazy approach does, I decided to start my own site. I even found a few distributors that carry the products I want to carry. (auto performance and sound) I have my EIN, my state tax ID, my DUNS #. I own the domain, have a basic CMS based e-commerce site up.
But I have hit something I was not prepared for. BUY-INS.
What exactly is this, and how does it work, and how am I supposed to deal with it.
I plan on running the site myself, no physical location, all online. One distributor wants me to do a $2500 buy in. Others say there will be a buy in and ask for trade references and annual sales numbers. How am I supposed to walk on the scene with no prior business dealings, no capital and start a drop shipping business? I plan on having a Cash based account too. Someone buys something, I would just wait for it to process it then PO it. That is the way the guy I worked for did it, seems to work just fine.
I know there are a few on here that have started online businesses of this type.
Suggestions?
But I have hit something I was not prepared for. BUY-INS.
What exactly is this, and how does it work, and how am I supposed to deal with it.
I plan on running the site myself, no physical location, all online. One distributor wants me to do a $2500 buy in. Others say there will be a buy in and ask for trade references and annual sales numbers. How am I supposed to walk on the scene with no prior business dealings, no capital and start a drop shipping business? I plan on having a Cash based account too. Someone buys something, I would just wait for it to process it then PO it. That is the way the guy I worked for did it, seems to work just fine.
I know there are a few on here that have started online businesses of this type.
Suggestions?
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